Tell me why I should not buy SALT

You should but it is heavily manipulated right now, you can only use it as a long term hold

The limit is not 2x, they will raise the price, also if bitcoin falls it can go more than 2x

the ICO was 0.25 cents

Bc elix has a smaller market cap and is better

i sold it, fucking crap shit.
alt have a hard time now, good if you want to buy one.
sell salt and buy chainlink or anything else that hasn't mooned yet but has a purpose.
also buy iota for longterm

I know it's not the limit, but it's the perceived limit, otherwise it would have gone to $27.5 by now.

Buy chain link? I sold my chain link for salt. Chain link has mooned once in the month that I had it. It was dogshit

The current price limit is the differential between what they currently charge and what normal banks/pawnbrokers are charging, There's room to grow beyond those 27.5$

After it can also grow once they start implementing new features that can make use of the token, such as pic related.

What do you mean perceived limit? the short term limit? that's a bit silly, that's why I said it's a long term hold

>sold chain link for salt

seriously, you are a massive faggot and deserve to be poor.

Long time investor here.

Why salt is a retarded idea (and any blockchain lending platform)

>Collateral requirement
Needing the client to have a significant collateral held in cryptos kinda defeats the risk for a loan. You are already rich, why would you need to loan money?
>Collateral in cryptos
Holding cryptos and loaning by holding them leverages an already risky asset class. Twice the risk for less gain.
>Margin calls galore
During a crash or period of high volatility, you will almost certainly get liquidated and all your coins will be gone.
>Interest rate is FUCKING low for loaning USD
Why would anyone loan here when they can just loan on bittrex / the local bank / mortgage

makes no fucking sense

All the loans they got? Fake as hell.

And that's why I mentioned opportunity cost, because in the mean time it's doing absolutely fuckall. I suppose it's also the idea that they can increase the costs - I'm just not sure that will be easy to pull off.

That's pretty neat, I didn't know they were doing cards. Are they just debit cards, or are they actual credit cards that use the same idea as the loans?

>You are already rich, why would you need to loan money?

Because you don't want to sell your appreciating assets for that liquidity?

>Long time investor here, I just don't know what SBLOCs are and that they're one of the most used loan mechanisms in the world

Sure thing Pajeet

>You are already rich, why would you need to loan money?
You're effectively hodling while being able to spend the money on assets like a penthouse or a lambo.

Credit, it's on their whitepaper

>Needing the client to have a significant collateral held in cryptos kinda defeats the risk for a loan. You are already rich, why would you need to loan money?
To avoid capital gains tax, or if you are an exchange you can use it on other peoples cryptos
>Holding cryptos and loaning by holding them leverages an already risky asset class. Twice the risk for less gain.
It is extremely likely crypto increases by 10% over the period of your loan so that's irrelevant
>During a crash or period of high volatility, you will almost certainly get liquidated and all your coins will be gone.
They give you time to respond, you can also keep your LTV higher than the minimum requirement
>Why would anyone loan here when they can just loan on bittrex / the local bank / mortgage
Already covered this

>All the loans they got? Fake as hell.
Do you have any proof?

Such weak fud

>>Interest rate is FUCKING low for loaning USD
>Why would anyone loan here when they can just loan on bittrex / the local bank / mortgage
Are there any actually confirmations on what the interest rates will be? I had assumed that the interest rate was the membership fee, but if you look closer at their terms, they say that the interest rate is to be decided based on the loaning party and market fees - so you still have to pay interest.

>2
I know perfectly well what sblocs are you retard. But using a crypto for collatteral is going full retard.

Cryptos arent things you want to hold for years unless you are a redditor perhaps.

...

>Cryptos arent things you want to hold for years unless you are a redditor perhaps.
You don't have to hold for years, you can pay it off early

Just use your credit score, or pay CASH. its cheaper and you can liquidate your cryptos + you reduce your overall risk.

>muh never cash out meme

this is literally made for people who believe that meme and end up completely charred when crypto has its first crash since 2013.

One thing is taking a loan in your real estate. Another is taking a loan in blue chip stocks.

But taking a loan in crypto or penny stocks is just asking to be BTFO

>Cryptos arent things you want to hold for years unless you are a redditor perhaps.

If you believe cryptos aren't things you want to hold that means you believe cryptos are things to be shorted?

Uhh, 10%? I'm inclined to think that image is FUD.

And if it isn't; I've applied for a loan for the maximum about of SALT that I have, so I'll just abuse the arbitrage and fuck off because it has no future.

Cryptos are things you want to hold as long as the euphoria lasts. Once norman money grinds to a halt, you bet im going to be out of this as fast as possible.

That doesnt mean i wont be back later after the dust settles.

But sure thing user keep holding until we reach that 1btc=1 lambo im sure its going to happen with no crashes whatsoever.

Anyone think that salt has become overtaken by the 1% of bitcoin holders?

Heres how it goes
>accumulate for months
>keep just enough to keep prices down
>spread misinformation/rely on the uneducated to obtain a huge position in Salt
>dump on normies at launch (priced in)
>shake more salt with this bitcoin pump
>get normies into loans with their crypto
>dump bitcoins price
>salt gets normies to liquidate their crypto and salt takes a cut
>salt goes up to $27.50 which is a huge increase in sats as they have dropped bitcoins price
>sell their salt for a while
>help raise salts price to help the platform in exchange
>salt becomes really established and gets good funding
>the 1% can now cash out all the want and perform even bigger pnds

They will both win so hard

So you'd rather chase moon missions? Good on you, you're a minority though.

So what you're saying is the price will eventually increase.

Yeah, im just saying how it smells like the biggest pyramid scheme in a long time. I really think they can establish themselves and an insane amount of money will pass through them over the next year. I think it should be top 10 eoy. At the very least if they become operational Salt tokens will be the new and improved tether.

Seems like a ponzi to me, too. They can arbitrarily increase the retail price of the token as they see fit. I think the whales are accumulating in anticipation, because they don't have to trade them in for 27.5 now when they might be worth many times that in the future.

If the loan system eventually does get automated, things may go much more quickly than anticipated.

As long as the whales and salt have agreed not to dump at huge rates, they can completely dry up the supply in no time then Salt can raise the price no problems.

The scary thing is, some normal people will then be buying Salt as speculation that the company will raise the price, but Salt will probably tell the whales in advance when they plan to do it so the whales know when to accumulate their salt back from the impatient instead of performing other pnds. Salt will only raise the price when their best friends the whales have a huge share as the whales will be 'loaning' 99% of the money.

>They can arbitrarily increase the retail price of the token as they see fit
I think it's reasonably fair because in theory, consumers can just take advantage of the arbitrage by buying at the market rate and then paying back at their rate. They take a loss... But eventually the market catches up and they make a profit anyway.

>They can arbitrarily increase the retail price of the token as they see fit.

The lending platform is a token sink, the more people use the platform, the closer the token price in markets will go to the established 27.5 price.

If everyone who acquired salt under 25$ used their salt in the platform, the platform would be the only provider of tokens, which would mean the price would, in effect, be 27,5$, at that point, whether they can rise that price or not would depend exclusively on supply and demand, will people willingly give salt 27.5 or more in order to acquire their services?

That quantity has a limit, so they cannot just raise the price arbitrarily.

They can raise the price of the token and lower the amount of tokens needed for the services if they want

Well at this point, we don't know what any of them will do. Salt can't even address anything related to market price due to regulations.

If the whales give us our moon, we'll take it and fuck off to other shitcoins, just as they want.

Is it really wise to completely fuck off though? this could really be a very strong pyramid scheme and go 20x in a year, there is a lot to consider. It is one of the few projects that would survive a crypto winter.

True. However, that's the reason we're seeing price suppression. If the project truly has potential, then we might be in for months without price movement until they decide they've squeezed every token possible out of the market.

If Salt are in on this as well, then they have no motivation to automate loans quickly as that would give up the game too fast.

Not gonna lie, it's hard to foresee the consequences of these price controls.

If exchange price for token rose and amount of tokens required decreased, the result would be the same price in US$.

On one hand, there would be market pressure to equalize the token's price, on the other hand, demand for tokens from people who're going to use it for the services would go down.

What you're suggesting seems like a sort of zero sum operation.

Do you think any average speculator will hold their tokens instead of arbitrage after seeing everything moon for weeks? they will clear up the supply so fast.

Having more patience than others and piggybacking off the biggest pyramids is an easy win in this market

It won't take 4 months to dry the market up, give it 2 weeks. This is based on two other coins I've been watching that have heavy market manipulation (ELF and ETC).

Just fucking buy elixir, still at $1 and a lower marketcap

Well, one week down, one to go then. Didn't OMG stagnate for an insanely long time before the recent spike?

Well, as long as it gives bigger returns than the potential opportunity cost, then it will be okay.

If they fill the 300M in loans they received the first day and all of them are paid for in Salt, that means a potential sink of over 50% of the current market supply.

Indeed, price should begin equalizing rather soon if they are covering this demand for loans, will depend on the speed.

I think it's more to do with publicity rather than how many loans they actually fulfill. Thinking about it for a second, all it would really take is some "famous twitter/youtube dude" to post about the arbitrage and the whales would not be able to hold back the moon.

It's not zero sum because salt (and their friends) hold the majority of tokens that they are inflating.

Basically it's like this, they let people arbitrage for $27.50 until they are ok with the circulating supply in the market, then they close arbitrage and up their retail price to $50, they can then easily cover the price loss of arbitrage simply by selling on exchanges/retail to speculators. Then they dont move the price again until they rebuy a huge portion of the supply from the impatient.

Also 10% arbitrage between binance and bittrex right now.

The key is how much control they and their friends have over bitcoins/ethereums price. If they can get their friends to lower bitcoins price
while maintaining theirs they can gain so many satoshis.

>Also 10% arbitrage between binance and bittrex right now.
really wishing I had better ML skills right now

>Then they close arbitrage and up their retail price to $50

If they did that, then the price of their services would double, unless, as you said, they halved the amount of tokens required.

But if they cut in half the amount of tokens required, I, who want to buy Salt services, will only need x/2 tokens, so in the end I will be spending the same amount of $ that I was planning to spend.

In a sense is like a fair using tokens to throw the ball at the bottles, whether they require 2 tokens at 0.25 each or 1 at 0.50 is irrelevant.

In the end, the only way you're going to see a growth in price is if the demand grows more than the supply.

Yes, but seeing Salt raising their price would attract dumb speculators who would fomo shortly after then hold the tokens for a while before either using them or getting impatient. Obviously if speculators are buying (either at retail price or off salt team member selling tokens on exchanges) it is good for salt as they can make money off the amount of dead money speculators are currently holding. Salt knows when they will raise the price so they can buy back their supply when they have made enough money off those speculators to purchase back the majority of the circulating supply before they raise the price.

God, it's a good scheme.

I think I see what you mean, people who hold as market supply dries through the use could be greatly benefited, if 99% of Salt tokens were exclusively available on salt platform they could charge whatever they wanted per token.

But this has 2 considerations that I can foresee.

1 is that the token needs divisibility for smaller services, if they charged 1 salt at 2750$/each for enterprise access for example, the basic access would be 0.01 salt.

2 is that the price in US$ for their services can never surpass those of their competition.

Another thing is whether they will need to periodically liquidate their salt on the market to pay for running expenses, increasing the market supply of salt and making the "99%" situation harder.

As I said, I don't think I'm capable of accounting for all the variables without spending at least a week on this.

But yeah, it indeed sounds like this could make patient people very, very wealthy, as long as Salt doesn't go around selling their tokens at the market.

Imagine they sell 1000 tokens on the market and get $30000, then over a week they could turn that $30k into $300,000 with bots. Then they double the price of their token and the holders of their token can only cash in for a maximum of $60k so Salt wins.

So really they can increase the price of their token relative to how much people hoard and how much money they can make off the amount they sold that hoarding for.

Obviously Salt will want to keep raising the price of their token and lowering the token requirements as much as possible to attract investment.

Basically if you invest in Salt you are investing in their investing. If they become huge they will be able to have huge market influence and make a lot of money investing.

>then over a week they could turn that $30k into $300,000 with bots
Via arbitrages in loans? I doubt they will make it easy to automate the loan process.

buy LEND instead

I mean Salt Lending invests the money they received from people buying their tokens and not using them. It is dead money (tether) to people holding the tokens until Salt raises their prices but Salt can actually trade off this money and make enough money to cover raising the price of their token and all speculators possibly cashing in.